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Are Share Options a Good Incentive for Staff?

Offering good incentives to work for your business can be what keeps you competitive when it comes to both attracting and retaining the good talent you need to make your company a success. There are, of course, a lot of ways you can offer perks to your staff that make working for your company especially desirable, and these can include everything from financial boons through to things that improve their day to day lives like flexible working.

However, in most cases it is difficult for your business to offer something especially unique, as most companies have relatively comparable benefits packages for staff at any given level. This is one of the reasons why share options can be well worth considering as a staff incentive.

Share Options Can Help Motivate Staff

A lot of people these days are interested in making their own money go further and preparing for their financial futures through investing. There has been a huge upsurge in the number of people who engage in things like currency trading thanks to sites like forex.com and who hold share portfolios. When you reward people with shares in your business, it not only gives them something that is compatible with their own financial strategies, but also helps motivate them to care about your company's performance. Owning shares in the business they work for allows people to feel like the company's goals and their own personal goals are aligned, and inspire loyalty to the brand.

A Good Incentive for Long Term Workers

Many companies put a lot of focus on incentives that can help lure in new staff, but less on rewarding those who stay with the company a long time. Retaining staff can be even more important than recruiting them, and so considering benefits that reward people who stay with your business is always a good idea. Share options can be used in this way, and can make long standing staff feel more a part of the business.

There is no doubt that share options can be a very appealing prospect for new joiners, and also a way to help existing, long standing staff feel more motivated and get a greater sense of sharing company values. If you don't currently have share options within your staff incentives and benefits arsenal, it is well worth considering how these could be used to improve your retention and recruitment strategy.